Field of the Invention
The present invention relates generally to automatic teller machines (ATMs) and, more particularly, methods of and systems for improving cash availability at ATMs.
Description of the Related Art
Prior to the introduction of ATM technology, bank customers physically visited any branch of their bank and withdrew cash from a human teller. With very few exceptions in times of financial catastrophe, the bank branches always had plenty of cash on hand to meet their customers' needs.
Since the introduction of ATMs, cash availability has become nearly ubiquitous. And bank customers have come to expect cash to be available nearly everywhere. However, this wide distribution of cash in numerous ATMs represents a risk of loss. While a bank can fortify a brick and mortar bank branch, ATMs can be found in many places that banks can't fortify, such as gas stations, restaurants, hotels, amusement parks, grocery stores, etc. operated by others, who also provide for whatever security there is. While the ATMs themselves can provide their own security by making it extremely difficult to extract cash without proper authorization and access, ATMs can be small enough to be driven off in a standard pick-up truck or station wagon.
Accordingly, it is preferred to stock ATMs with just enough cash to meet the expected demand. Any excess cash stocked in an ATM represents a risk of loss.
At the same time, it is important that ATMs do not run out of cash to dispense. For the customer, this represents a significant inconvenience, particularly if the customer is unfamiliar with the area and doesn't know the location of nearby ATMs. In addition, the business providing the ATM for its customers loses income when the ATM is unable to dispense cash—both in terms of fees paid by the customer for cash access and in terms of incidental business with the customer, such as impulse purchases while the customer is visit the business.
What is needed is a way to increase cash availability while avoiding overstocking ATMs with cash.